Nel ASA: Selected by Iberdrola as preferred supplier for a 20 MW green fertilizer project in Spain

OSLO,Norway,Nov. 4,2020 --Nel Hydrogen Electrolyser,a division of Nel ASA (Nel,OSE:NEL),has been selected as preferred supplier by Iberdrola for a 20 MW PEM solution for a green fertilizer project in Spain. Contract award is subject to mutual agreement on the final commercial terms. The hydrogen plant is scheduled to commence operations in 2021.

"We are very excited and honored that Iberdrola prefer to use a PEM electrolyser solution from Nel for this landmark green fertilizer project. It is a true testament to our PEM platform,which has been deployed all over the world for several decades. We continuously work to develop larger systems,and with this project our PEM platform will be designed into a 20 MW solution. We have over the course of the last year been working on both alkaline and PEM large-scale solutions,which serve different customer needs,and we look forward to provide our PEM solution for this project," says Filip Smeets,SVP Nel Hydrogen Electrolyser,Nel Hydrogen Fueling.

Iberdrola,one of the largest electricity utilities in the world,has together with a world-leading fertilizer manufacturer Fertiberia launched a project to establish the largest green hydrogen plant in Europe. Located in Puertollano,Spain it will feature a 100 MW photovoltaic plant,a battery installation with a storage capacity of 20 MWh,and a 20 MW electrolyser. The hydrogen produced in the project will primarily be used for green fertilizer production. The 20 MW electrolyser is scheduled to commence operations in 2021.

Contract award is subject to mutual agreement on the final agreement on terms and conditions,technical details,and board approval.

For further information,please contact:

Jon André Løkke,CEO,+47 907 44949

Kjell Christian Bjørnsen,CFO,+47 917 02 097

About Nel ASA | www.nelhydrogen.com

Nel is a global,dedicated hydrogen company,delivering optimal solutions to produce,store,and distribute hydrogen from renewable energy. We serve industries,energy,and gas companies with leading hydrogen technology. Our roots date back to 1927,and since then,we have had a proud history of development and continuous improvement of hydrogen technologies. Today,our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations,enabling industries to transition to green hydrogen,and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles - without the emissions.

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